Property Wizards was in the thick of it at a recent auction and we were thrilled to come away with a win for our clients, who are looking forward to moving into their new home in Leederville! To add to the excitement of the day, the property was secured with a great saving, $40,000 under the reserve price.
Our clients came to us with the property in mind for their future home, pending a thorough renovation. Having had their pre-purchase building and pest inspection attended to, they were looking for the extra edge to get over the line on auction day. That edge is all about confidence, which comes from thorough preparation and experience.
With a week to go before the auction, the team at Property Wizards had all hands on deck to complete our detailed due diligence checks, including the research into prices in the area. With a clear idea of the value of the property, our clients were able to confidently set a budget and move forward with their plan to buy.
On auction day, our team attended along with the clients, with Liz Sterzel representing our clients in the bidding. There were many other auction goers in attendance, and a number of registered bidders. Despite the large amount of interest, Liz was able to kick off the bidding and stay ahead of the other few parties placing bids, securing the property almost in the blink of an eye, for $40,000 less than the reserve and well under our bid limit.
The important take away from this is that auctions can be over so quickly, that even astute buyers who have registered to bid and have their finances in order can miss the mark. The presence of confident, well prepared bidders can exacerbate the nerves of others who were maybe slightly on the fence about their budget or the property, causing stage fright. With confidence, experience or a seasoned representative on your side, you’ll be the one calling the shots, taking the win on auction day, and never paying more than you have to.
If you want more information about property investing, why not read our Property Investing Beginner’s Guide eBook.
If you’re not sure what type of strategy would best for you or you would like to learn more about different strategies, why not download our 4 Strategies to Success fact sheet.
Or, if you’re ready to talk about buying your first home, why not complete our Getting Started form to get the ball rolling.
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